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This paper maintains that the consistent application of subjectivism helps to reconcile contemporary entrepreneurship theory with strategic management research in general, and the resource−based view in particular. The paper synthesizes theoretical insights from Austrian economics and Penrose's (1959) resources approach, arguing that entrepreneurship is inherently subjective and firm specific. This new synthesis describes how entrepreneurship is manifested in teams, and is driven by both heterogeneity of managerial mental models and shared team experiences.

Publication information

Original languageEnglish
Place of PublicationKøbenhavn
PublisherDjøf / Jurist- og Økonomforbundet
Number of pages47
ISBN (print)8791815363
StatePublished - 2006

ID: 122564